Closing Costs

There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.

When we open escrow, I will obtain from Escrow a statement of your estimated closing costs and I will walk you through these closing costs, answering any questions you may have.

Buyers will receive a "Good Faith Estimate" from their lender of closing costs at the time the loan application is submitted. The estimate is based on the loan officer's past experience and may not include all the closing costs.  

THE SELLER CAN GENERALLY BE EXPECTED TO PAY FOR: • "Owner’s title insurance policy premium • Escrow fee (Seller’s portion) • Real Estate Commission • Document preparation fee for deed • Document transfer tax ($1.10 per $1,000 of sales price) • Tax proration (for any taxes unpaid at time of transfer of title) • Any city transfer or conveyance tax • Payoff all loans in Seller’s name including interest accrued, statement fees, reconveyance fees and prepayment penalties • Termite inspection and work (according to contract) • Home warranty (according to contract) • Any judgments, tax liens, etc. against the seller, incl unpaid taxes • Any unpaid homeowner’s dues • Recording charges to clear all documents of record against seller • Any bonds or assessments (according to contract) • Building and Safety Report • DWP Certificate of Compliance • Retrofitting Certificate • Hazard Disclosure Report • Regulatory Compliance Fee

THE BUYER CAN GENERALLY BE EXPECTED TO PAY FOR: • "Lender’s title insurance policy premium on each loan • Escrow fee (Buyer’s portion) • Document preparation (if applicable • Notary Fees • Recording charges for all documents in Buyer’s name • Inspection fees (roofing, property inspection, geological, etc.) • Tax proration (from date of acquisition) • Homeowner’s transfer fee • Loan related costs (click link for details) • Interest on new loan from date of funding to 30 days prior to first payment date • Fire insurance premium for the first year • Any Private Mortgage Insurance • Any impounds or reserves as determined by the lender • Regulatory Compliance Fee • Wire Fee • Messenger Fee